Raymond James Financial Services Advisors Inc. reduced its stake in Las Vegas Sands Corp. (NYSE:LVS – Get Rating) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,939 shares of the casino operator’s stock after selling 5,174 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Las Vegas Sands were worth $1,386,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sculptor Capital LP acquired a new position in shares of Las Vegas Sands during the second quarter worth $41,358,000. Prudential Financial Inc. boosted its position in shares of Las Vegas Sands by 233.1% during the 1st quarter. Prudential Financial Inc. now owns 984,120 shares of the casino operator’s stock worth $38,253,000 after acquiring an additional 688,676 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Las Vegas Sands in the 1st quarter valued at about $21,388,000. Vanguard Group Inc. raised its position in shares of Las Vegas Sands by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 35,537,902 shares of the casino operator’s stock worth $1,381,358,000 after acquiring an additional 519,620 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Las Vegas Sands by 1.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 29,793,305 shares of the casino operator’s stock worth $1,000,757,000 after purchasing an additional 440,770 shares during the last quarter. Hedge funds and other institutional investors own 39.75% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have weighed in on LVS shares. Barclays raised their price objective on shares of Las Vegas Sands from $43.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, December 15th. Citigroup upped their price objective on shares of Las Vegas Sands from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. CICC Research initiated coverage on Las Vegas Sands in a research report on Thursday, November 24th. They set an “outperform” rating on the stock. Jefferies Financial Group raised Las Vegas Sands from a “hold” rating to a “buy” rating in a report on Monday, September 26th. Finally, Wells Fargo & Company raised their price target on Las Vegas Sands from $45.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Las Vegas Sands currently has an average rating of “Moderate Buy” and an average price target of $51.55.
Las Vegas Sands Stock Down 0.0 %
Las Vegas Sands (NYSE:LVS – Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The casino operator reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Las Vegas Sands had a negative return on equity of 25.33% and a net margin of 46.94%. Las Vegas Sands’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.45) EPS. As a group, research analysts expect that Las Vegas Sands Corp. will post -1.19 earnings per share for the current year.
Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.
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